The euro is treading water around 17 month lows against the dollar ahead of the FOMC decision in a few hours.
According to the Daily chart below, EURUSD would need to cross above 1.1500 dollars and above the 60 day MA to possibly set up for another bullish move.
Otherwise, spot would have to break thru bids around 1.1145 for a test of the 1.1000 support.
For the intraday outlook, spot euro is trading sideways. Do take heed the likely order levels shown on the H4 and H1 charts below.
The targeted support and resistance levels are in the latest colored boxes on the respective charts.
Price action would have to cross their respective colored zones to confirm any meaningful change or extension in trend.
As always, all prior support and resistance lines were still respected and will likely continue to be.
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All displayed chart support/resistance lines are either historical levels or actual confirmed order book levels currently being traded by major players based on available market intelligence.
Disclaimer: This content is for educational purposes only. It does not constitute trading or investment advice. Past performance does not indicate future results. Do not invest more than you can afford to lose.
